I have been waiting for over 5 weeks for a MI approval; all other terms have been agreed upon 5 weeks ago; It is with BOA; anyone else having MI problems?

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Comment by Susan Pierce on August 24, 2010 at 1:27pm
Absolutely and mine is also with Bank of America. After waiting almost 3 weeks of waiting for MI approval the MI company came back asking for seller to sign a $83k promissory note. We negotiated it down but seller still would not agree to terms. The negotiator at BoA closed out the file when we couldn't get the MI company to budge any further. We have now started the whole process again with another negotiator at BoA who already talked to the MI conmpany before we started the whole process again. Seller even submitted a harship letter directly to the MI company. This time around (and I say this very cautiously) the same MI company says they will approve the sale. We are now at the 6 month mark...hopefully we'll close at the end of September.

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